Best Debit Card in the World? & Why?

[TechnoFinoTechnoFino is verified member.]

After reading the title, you might be thinking about a debit card that offers great rewards on credit card bill payments. But that's not what this is about. Did you know there's a bank account—or perhaps we shouldn't even call it a regular bank account—that offers a unique debit card, perfect for travelers? I'm talking about the Charles Schwab brokerage account, which even Indians can open from India without an SSN or ITIN.



Why do I consider the Charles Schwab Visa Debit Card the best debit card? Let me highlight three features:

1. Zero Markup Fees
2. Zero ATM Withdrawal Fees Worldwide
3. Unlimited ATM Fee Rebates: This applies to cash withdrawals using the Charles Schwab Visa Debit Card wherever it is accepted.

When you travel abroad with this debit card, there's no need to worry about high ATM access fees. At the end of the month, you'll get a 100% refund of those fees from your bank. I never travel internationally without this debit card. Whenever I need to withdraw cash, I use this card and live worry-free. For example, when I was in Japan, I used this card to withdraw some cash and was charged an ATM fee, but Charles Schwab refunded it at the end of the month.



How can you get this debit card?

To obtain this debit card, you can either open a Charles Schwab International Brokerage Account, or if you live in the USA, you can open a Charles Schwab Brokerage Account or an individual checking account.

If you're in India and want to open this account, you'll need the following documents:

1. Substitute Form W-8BEN
2. A photocopy of your current passport
3. An original or copy of a utility bill

Account Opening Fund:
If you live in the USA, you don’t need any initial deposit to open this account. However, if you live outside the US, you'll need $25,000 to open the account. After opening, you don't have to maintain any balance, and this account doesn't have any annual or monthly maintenance fees. And if you visit the US, you might be able to open this account without any deposit.

You can use this brokerage account to trade or invest in the US market. You can also use it as a regular bank account to receive and send funds.

Note: This is not a promotional post or a product recommendation. Please do your own research before opting for any product.

 

[6ix9ine]

Account Opening Fund:
However, if you live outside the US, you'll need $25,000 to open the account.

 

[telescope]

After reading the title, you might be thinking about a debit card that offers great rewards on credit card bill payments. But that's not what this is about. Did you know there's a bank account—or perhaps we shouldn't even call it a regular bank account—that offers a unique debit card, perfect for travelers? I'm talking about the Charles Schwab brokerage account, which even Indians can open from India without an SSN or ITIN.

View attachment 67484

Why do I consider the Charles Schwab Visa Debit Card the best debit card? Let me highlight three features:

1. Zero Markup Fees
2. Zero ATM Withdrawal Fees Worldwide
3. Unlimited ATM Fee Rebates: This applies to cash withdrawals using the Charles Schwab Visa Debit Card wherever it is accepted.

When you travel abroad with this debit card, there's no need to worry about high ATM access fees. At the end of the month, you'll get a 100% refund of those fees from your bank. I never travel internationally without this debit card. Whenever I need to withdraw cash, I use this card and live worry-free. For example, when I was in Japan, I used this card to withdraw some cash and was charged an ATM fee, but Charles Schwab refunded it at the end of the month.

View attachment 67473

How can you get this debit card?

To obtain this debit card, you can either open a Charles Schwab International Brokerage Account, or if you live in the USA, you can open a Charles Schwab Brokerage Account or an individual checking account.

If you're in India and want to open this account, you'll need the following documents:

1. Substitute Form W-8BEN
2. A photocopy of your current passport
3. An original or copy of a utility bill

Account Opening Fund:
If you live in the USA, you don’t need any initial deposit to open this account. However, if you live outside the US, you'll need $25,000 to open the account.

You can use this brokerage account to trade or invest in the US market. You can also use it as a regular bank account to receive and send funds.

Note: This is not a promotional post or a product recommendation. Please do your own research before opting for any product.

1. After opening account with $25k from India, how much to maintain continously in account? MAB/QAB?
2. How much time it takes for account opening to getting dc in hand?
3. Any monthly fees for this dc/account?

can you share the link to this account/product on charles schwab website?

 

[BhaiyaJi]

you'll need $25,000 to open the account.

 

[Riva]

Approx 20Lac IP versus zero forex markup Indian debit card!! Winner is obvious.!!

 

[BhaiyaJi]

More than 7Ls means 20% LRS TCS will also come into picture.

 

[vine]

Bhai dropped $25,000, simply like ₹25k SavingsMax account with free Platinum DC/Millennia DC 😛

 

[alwayswin69]

SBI cashback card se din ka 250-300 nikalne waale logo ko 25k$ waali scheme bta rhe sir :')

 

[asen]

View attachment 67486

OP should apologise to us for posting this thread about 25k USD account in technofino.

 

[bhaveshbhai]

Try niyo dcb debit card for zero forex markup

 

[thegame]

OP should apologise to us for posting this thread about 25k USD account in technofino.

he can't/won't as he is Mr.TechnoFino himself 😀

 

[ankitfintech]

@TechnoFino what's the process to get the debit card?

I already have the necessary funds in Schwab international brokerage account due to company shares I get..

 

[codenerd]

Try niyo dcb debit card for zero forex markup

Cahd withdrawal at international ATM is high.

 

[vine]

OP should apologise to us for posting this thread about 25k USD account in technofino.

OP is 'THE OG'.

 

[Riva]

After reading the title, you might be thinking about a debit card that offers great rewards on credit card bill payments. But that's not what this is about. Did you know there's a bank account—or perhaps we shouldn't even call it a regular bank account—that offers a unique debit card, perfect for travelers? I'm talking about the Charles Schwab brokerage account, which even Indians can open from India without an SSN or ITIN.

View attachment 67484

Why do I consider the Charles Schwab Visa Debit Card the best debit card? Let me highlight three features:

1. Zero Markup Fees
2. Zero ATM Withdrawal Fees Worldwide
3. Unlimited ATM Fee Rebates: This applies to cash withdrawals using the Charles Schwab Visa Debit Card wherever it is accepted.

When you travel abroad with this debit card, there's no need to worry about high ATM access fees. At the end of the month, you'll get a 100% refund of those fees from your bank. I never travel internationally without this debit card. Whenever I need to withdraw cash, I use this card and live worry-free. For example, when I was in Japan, I used this card to withdraw some cash and was charged an ATM fee, but Charles Schwab refunded it at the end of the month.

View attachment 67473

How can you get this debit card?

To obtain this debit card, you can either open a Charles Schwab International Brokerage Account, or if you live in the USA, you can open a Charles Schwab Brokerage Account or an individual checking account.

If you're in India and want to open this account, you'll need the following documents:

1. Substitute Form W-8BEN
2. A photocopy of your current passport
3. An original or copy of a utility bill

Account Opening Fund:
If you live in the USA, you don’t need any initial deposit to open this account. However, if you live outside the US, you'll need $25,000 to open the account.

You can use this brokerage account to trade or invest in the US market. You can also use it as a regular bank account to receive and send funds.

Note: This is not a promotional post or a product recommendation. Please do your own research before opting for any product.

This is good info though.
Does the initial funding have to come from the person themselves or from India? Can a relative in US open a joint account, fund the account with $ and then convert that into a single account?
If you have a business in US, can they open it on the holders behalf?

 

[yolofino]

Does airtel broadband bill works? Or the gas cylinder bill? Don't have electricity or water connection in my name.

 

[HumorSimpson]

Here we hunt for rewards for things like ₹25 cotton swab .. and you post a $25K Charles Schwab.

 

[TechnoFinoTechnoFino is verified member.]

1. After opening account with $25k from India, how much to maintain continously in account? MAB/QAB?
2. How much time it takes for account opening to getting dc in hand?
3. Any monthly fees for this dc/account?

can you share the link to this account/product on charles schwab website?

1. after opening the account, zero maintenance.
2. approx 30 days in total
3. no monthly account maintenance fees

@TechnoFino what's the process to get the debit card?

I already have the necessary funds in Schwab international brokerage account due to company shares I get..

If you have the account, just call them and request, you don't need to maintain the balance to get the card.

 

[TechnoFinoTechnoFino is verified member.]

This is good info though.
Does the initial funding have to come from the person themselves or from India? Can a relative in US open a joint account, fund the account with $ and then convert that into a single account?
If you have a business in US, can they open it on the holders behalf?

I don’t have the correct answer to your questions. I suggest you call Schwab directly and ask them. You can use Skype to call any US toll-free number for free.

 

[TechnoFinoTechnoFino is verified member.]

Guys, this is just an informational post. This account/debit card might be useful for some, but most people can probably ignore it. The Schwab brokerage account is great if you trade or invest in the US. However, opening this account just for the debit card isn’t a good idea if you live outside the US and can’t visit the country.